Contec Innovations Announces Private Placement


Vancouver, Canada, May 08, 2004 /Wi-Fi Technology News/- Contec Innovations (?Contec? or the ?Company?) wishes to announce a non-brokered private placement offering to raise gross proceeds of up to CDN$1,000,000. Under the terms of the private placement, the Company will offer for sale a maximum of 6,250,000 Units (the "Units?) at CDN$0.16 per Unit.

Each Unit will consist of one common share and one non-transferable share purchase warrant (the "Warrants?) where each Warrant will allow the subscriber to purchase one additional common share at $0.30 for a period of one year from the closing date subject to accelerated expiry conditions. Under the accelerated expiry terms, the warrants to purchase additional shares will expire if the common shares of Contec Innovations have traded above $0.55 for 10 consecutive business days with an aggregate volume equal to half the number of warrants issued to subscribers under this offering. Warrant holders will have the choice of exercising their warrants or allowing them to expire.

The Company will pay a cash finder?s fee equal to 8% of the total gross proceeds of the offering and finder?s warrants (?Finder?s Warrants?) equal to 10% of the number of Units sold under the offering exercisable at $0.16 per warrant for a period of one year from the closing. Each Finder?s Warrant may be exercised for one additional common share of the Company. The Finder?s Warrants are subject to the same accelerated expiry conditions as the Units sold to subscribers.

The Units issued upon the closing of the placement are subject to a 4-month hold period. The private placement is subject to the acceptance of the TSX Venture Exchange.

Contec Innovations is listed on the TSX Venture Exchange under the trading symbol ?BUZ?.


ON BEHALF OF THE BOARD OF DIRECTORS OF
CONTEC INNOVATIONS

?Perry Quan?, President and CEO


About Contec Innovations
Contec (TSX-V: BUZ) accelerates the growth of the mobile Internet by enabling mobile service providers to capitalize on new data services. Contec?s core product, Hornet?, is an open, carrier-class service delivery platform capable of hosting multiple applications in a secure and scalable environment. With Hornet?, service providers can generate new revenues by efficiently developing and deploying reliable and compelling mobile data applications. For more information, visit http://www.contec.ca.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. The statement made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company?s expectations. Hornet? is a trademark of Contec Innovations Inc.

For more information, please contact:

Brian Buckley, Contec Investor Relations
Tel: 604-468-5638
brian.buckley@contec.ca

Asa Zanatta, Media Relations
Tel: 604-408-1389
azanatta@spiritcommunications.ca